Bessemer Group Inc. boosted its position in CONMED Corporation (NYSE:CNMD - Free Report) by 46.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 116,429 shares of the company's stock after purchasing an additional 36,940 shares during the period. Bessemer Group Inc. owned about 0.39% of CONMED worth $4,117,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wasatch Advisors LP bought a new stake in CONMED in the third quarter valued at approximately $47,026,000. Invenomic Capital Management LP increased its holdings in shares of CONMED by 75.6% during the 4th quarter. Invenomic Capital Management LP now owns 737,546 shares of the company's stock worth $29,944,000 after acquiring an additional 317,543 shares during the last quarter. Marshall Wace LLP bought a new stake in CONMED in the 4th quarter valued at $9,029,000. Dimensional Fund Advisors LP raised its stake in CONMED by 19.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company's stock valued at $60,984,000 after acquiring an additional 214,126 shares during the period. Finally, Millennium Management LLC acquired a new stake in CONMED during the 3rd quarter valued at $9,239,000.
CONMED Stock Performance
CNMD opened at $43.51 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. The business has a fifty day simple moving average of $35.98 and a 200 day simple moving average of $38.36. CONMED Corporation has a 1 year low of $31.44 and a 1 year high of $56.63. The company has a market capitalization of $1.31 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93.
CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. The firm had revenue of $317.05 million for the quarter, compared to analysts' expectations of $310.64 million. CONMED had a return on equity of 13.84% and a net margin of 4.00%.The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. Research analysts expect that CONMED Corporation will post 4.38 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CONMED from $43.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company set a $39.00 price objective on shares of CONMED in a research report on Monday, July 13th. Zacks Research cut shares of CONMED from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. BMO Capital Markets assumed coverage on shares of CONMED in a report on Wednesday, July 8th. They set a "market perform" rating and a $36.00 target price for the company. Finally, Bank of America reiterated an "underperform" rating and issued a $40.00 price target on shares of CONMED in a research note on Monday, June 29th. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $38.80.
Read Our Latest Stock Report on CONMED
CONMED Company Profile
(
Free Report)
CONMED Corporation NYSE: CNMD is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company's product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.
CONMED operates two principal segments: Orthopedics, and Visualization & Energy.
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